SGX Mainboard welcomes Parkson Retail Asia

The second biggest department store operator in Malaysia plans to use most of its IPO proceeds to expand its business in existing markets and to open a new store in Cambodia.

Parkson is a Southeast Asian-based operator of department stores with 50 stores across Malaysia, Vietnam and Indonesia. It has a market capitalisation of about S$640 million.

Datuk Alfred Chen, Group Managing Director of Parkson, said, “Going forward, we believe our status as an SGX-listed company will put us in a stronger position to gain access to capital markets to fund our expansion, move up our business value chain and ultimately maximise value to our shareholders.”

SGX President, Mr Gan Seow Ann, commented, “We are pleased that Parkson Retail Asia has chosen to come to SGX to raise funds for its business expansion in Asia, the fastest growing region in the world. This listing adds to the growing pool of Consumer companies which are using SGX to strengthen their positioning and growth in Asia.”

Parkson brings the total number of listed companies on SGX to 776.